HR 2988
Passed a chamber
Limits how retirement plan managers may choose investments and vote shareholder proxies based on non-financial goals, and requires notices to workers who invest through brokerage windows.
Official title: Protecting Prudent Investment of Retirement Savings Act
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
24-APR-2025
Referred
24-APR-2025
Approved by committee
25-JUN-2025
Reported
30-DEC-2025
On the calendar
30-DEC-2025
Passed
15-JAN-2026
Senate
Received
26-JAN-2026
- Requires plan fiduciaries to base investment decisions solely on pecuniary factors, with a documented exception when alternatives cannot be distinguished on financial grounds.
- Bars default investment options from including non-financial goals in their objectives or principal strategies.
- Allows plan fiduciaries to skip proxy votes under a safe harbor policy, such as when a plan holds less than 5 percent of its assets in the issuer.
- Requires a four-part notice and a projected balance graph at 4, 6, and 8 percent returns before participants trade brokerage window investments, starting January 1, 2027.
- Directs the Comptroller General to report to Congress within 2 years on brokerage window returns compared with designated investment options.
Covers an older version. The newest CRS summary describes the bill as of "Reported to House" (30-DEC-2025); the text has changed since (Engrossed in House, 15-JAN-2026).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.govLabor and Employment
No cosponsors.